AI summary
Rising mortgage rates have slowed UK house price growth to its lowest level in two years, signaling a significant cooling of the property market.
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UK house prices grow at slowest pace in two years as mortgage rates rise
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Sluggish growth of 0.5% in October comes as higher borrowing costs put break on marketUK house prices grew by an annual rate of just 0.5% in October, the slowest pace in more than two years, as higher mortgage rates put off potential buyers.The average price for a property in the UK stood at £273,566 in October, flat on the previous month and down from 0.8% in the year to September, according to the lender Nationwide. Continue reading...
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